NJ Online Gambling Industry Surpasses Revenue Record Again
New Jersey online casinos as a collective industry have again made record revenue numbers. Earlier this year, in March, record revenues were generated in the industry since it was fully legalized. This month of July, the state collected just over to $53 million, which is over 32% more than what was generated in March.
The legalization of sports betting was clearly a great financial move for the state. The NJ Division of Gaming Enforcement released data with specific details detailing what was generated via sportsbooks and online casinos. There is a comparison of the total made this year and the same time last year. Follow along with us as we check out the highlights of this month in the world of internet gambling in New Jersey.
What does the NJ Online Gambling Data Show?
The continued upward surge can only be attributed to the legalization of web-based gambling on a grander scale. Despite the previous access to online casinos at some levels, there were limitations regarding what internet gambling was available to US players in New Jersey. Once online sports betting was legalized, the profits were hugely significant. The state was evidently hungry for the change.
Some of the highlights recorded:
- Total Revenue in July was $39.3 million – this is a 51.8% increase from last year July
- Online casinos raked in $37.4 million which is a 55.6% growth from same time last year
- Online poker sites collected $1.9 million a small but positive 2.1% growth
- Sports Betting Revenue in total is $17.9 million of which over $13 million of that revenue is directly from online betting on sports
Poker Cardrooms have not benefited from the significant boom that online casinos and sports betting sites have seen.
Not only the gambling sites have seen a positive growth. Casino Resort operators in the state have also been recording boosts. Unfortunately, Ocean Casino Resort is not amongst those with highlights. The casino resort has been struggling over the last year going through three different owners in the time period. Hopefully, the next financial year gets better for them.
Will New Jersey’s online gambling industry continue on its upward rise? We will keep an eye on updates. Keep following us here for more casino and gambling news.